FORBES – Nov 16 – Researchers at San Diego-based Independent Security Evaluators discovered that even if they'd been banned from Bumble, they could acquire a wealth of information on its daters. The flaws were fixed earlier this month. For ~6 months since the researchers alerted Bumble they could acquire the identities of every Bumble user. If an account was connected to Facebook, it was possible to retrieve all of their "interests" or pages they liked and pictures and rough location. Bumble's API didn't do the necessary checks or have limits so it was possible to repeatedly probe the server for information on other users. It took six months for Bumble to fix the problems. Bumble rival Hinge had vulnerabilities and the problems were addressed in under a month.
Month: November 2020
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Bumble Taps Goldman and Citigroup for IPO Next Year
BLOOMBERG – Nov 13 – Bumble is working with Goldman Sachs Group and Citigroup on its planned IPO. Bumble can list as early as the Q1 of 2021. Morgan Stanley is also advising on the listing. Bumble could seek a valuation of $6B to $8B in an IPO.
S’More Dating App Launches in Dallas
NBCDFW – Nov 13 – “Dallas is S’More‘s sixth active city in the U.S.,” said Adam Cohen Aslatei, CEO of S’More. S’More is a new relationships app that’s about getting to know a person before seeing a profile picture.
Where Will Match Group Be in 5 Years?
THE MOTLEY FOOL – Nov 13 – Match Group went public at $12 per share five years ago after being spun out from IAC. The stock has risen more than eleven-fold since then, and the annual revenue rose from $888M in 2014 to $2.1B in 2019, representing a compound annual growth rate of 18.8%. Match's average revenue per user (ARPU) could eventually peak as it saturates Tinder's subscriber base with Gold upgrades. That's why Match recently started testing Tinder Platinum, which includes all the Plus and Gold perks and adds two new features: "Priority Likes", which take precedence over Likes and Super Likes from lower tiers; and "Message Before Match", which lets users attach short messages to their Super Likes. Match will continue to expand Hinge and its other stronger apps, and possibly acquire additional dating apps.
Dan Healy – Dating in the New Normal
LTR – Nov 12 – Misrepresentation has become increasingly common among online daters. Dan Healy, Managing Director of FTI Consulting, discusses dating in the new normal. According to a recent survey conducted by FTI Consulting, 75% of daters admit to distorting reality to present themselves in the best possible way. Dean Healy explains the incredible findings in the latest video in the LTR conference series.
LTR stands for Love, Technology, Relationships and the online conference covers the Internet dating and Online Social Communities space. It is for members of IDEA and OSCA.
The September LTR was kindly sponsored by RealMe & vPaaS by The Meet Group.
Aisle, an Indian Dating App, Attracted 3.4M Users
YOUR STORY – Nov 11 - Aisle, Bengaluru-based app, brings together dating and matrimony on the same platform. Aisle was founded in 2014 by Able Joseph. In the past six years, Aisle has raised ~$300K from some of the biggest angel investors in the country, including serial entrepreneur Sanjay Mehta, Facebook Director Anand Chandrashekaran, and Udhyam founder Mekin Maheshwari. For the first 1,000 days, Aisle was a hand-picked community with every user being vetted by the team. Today, the app claims 3.4M members across 193 countries. Aisle was initially built with millennials in mind, but towards the end of 2017, it had an organic explosion of Gen Z audience. Currently, the team is focused on their new feature 'Rooms', introduced a few months after the lockdown was announced to help singles not just match online, but also have their first date via the Internet.
BLK App Is Creating Community for Change
THE GRIO – Nov 11 – BLK App, a dating app founded by Match.com, has been around for three years, and is currently led by Jonathan Kirkland, the Head of Marketing and Brand. In the first two weeks of COVID-19, BLK App saw an 18% increase in the daily activity. Kirkland shares, "We are 7 months into the pandemic and have seen a 38% increase in activity month over month." Since launching in 2017, BLK App has had ~4M people download the app. The app is 55% male and 45% female; however, they market directly toward Black women. Kirkland came to BLK App and 28 days later, the murder of George Floyd occurred. He immediately sprung into action. He said, "We look at things through three lenses – community, dating/relationships, and entertainment." Community has been the pulse for the app's activations. Kirkland and his team are working to add features to the app to make it feel more like a lifestyle destination vs. just a place to find a date.
by Danielle James
See full article at The Grio
Dating App Usage Is Changing for the Better
The Inner Circle Appoints New Managing Director
INNER CIRCLE – Nov 11 – Masha Kodden has joined the Inner Circle's head office in Amsterdam and will focus on scaling the team and leading the global expansion in EMEA, the Americas and APAC. David Vermeulen will remain the CEO, taking on an advisory role while also running the Inner Circle Innovation Lab, focusing on improving user experience.